Walker did not campaign on plans to spin off the University of Wisconsin System as a public authority and now says he will sign so-called right-to-work legislation even though he insisted for years he would keep the measure from reaching his desk. (171)

If Park Bank is liable for not spotting Sujata "Sue" Sachdeva's $34 million embezzlement from Koss Corp. and has to reimburse the company, Koss Chief Executive Michael Koss should also be ordered to personally pay the public company he runs, the bank argues in a new lawsuit.

Grant Thornton, Koss Corp.'s former auditor, should also have to pay a portion of any award that may be ordered, Park Bank argued in the latest twist in a long-running court fight stemming from Sachdeva's massive embezzlement.

"Park Bank denies any and all liability to Koss in this case," the bank said in its action. "Nevertheless, should Park Bank be found liable to Koss (Corp.) and required to pay damages to Koss, in this case, those damages will have been the result of a common liability of Park Bank, Michael Koss and Grant Thornton, thereby entitling Park Bank to (a) contribution from Michael Koss and Grant Thornton."(10)

ABB's three-story, 95,000-square-foot building has an estimated property value of $13.6 million. The building is being developed by Zilber Property Group, and will be leased to ABB.

The company will shift 350 employees to Wauwatosa from New Berlin, where it will maintain its growing manufacturing operation and service center. ABB has 602 employees in New Berlin, where it has added more than 200 jobs over the last three years.

The city is spending $2.15 million for the building's underground parking. Property taxes from the ABB building will pay back those funds within roughly 13 years, according to city officials.

Commercial Real Estate News

A large industrial building, located on Milwaukee's north side, has been sold to a local investment group that plans to continue redeveloping the property.

An affiliate of Phoenix Investors LLC purchased a 206,200-square-foot portion of the former Square D industrial plant, 4041 N. Richards St., for $1.45 million, the firm announced Monday. It was sold by Stag II Glendale LLC, a subsidiary of Boston-based Stag Industrial Inc., in a transaction brokered by Robert Dufek of Dufek Realty LLC and Jim Larkin of Colliers.